Health Insurance Plan Comparison Tool to Aid Small Businesses

A renovated website is available to provide small business owners an unprecedented review tool to see health insurance plan choices, with the ability to sort by out-of-pocket limits, average cost per enrollee, prescription drug/maternity/mental health coverage and other factors. Smaller businesses, which do not have the large purchasing/negotiating power of larger ones, will be provided with more transparency in the insurance marketplace.

According to the HHS news release, HHS Secretary Kathleen Sebelius said, “This new information will help business owners navigate what has traditionally been a complicated and confusing decision. Both owners and their employees can feel more confident that the plans offered will be the best to suit everyone’s needs.”

More than 530 insurers have provided information for more than 2,700 coverage plans across all 50 states. This interface is a likely precursor to the anticipated web portal for the health benefits exchange that will be available in 2014.